SEZ Authority and Entities

SEZ Authority and Entities

The new SEZ regime comprises of an SEZ Authority, as well as three entities—SEZ Operators, SEZ Enterprises and Single Zone Enterprises. The SEZ Authority will provide the necessary supervision and regulation of SEZs, and will be a critical part of the overarching governance of the new SEZ regime. The SEZ Operator will be responsible for the management of an SEZ, the SEZ Enterprise will be an enterprise approved by the SEZA and located in a Special Economic Zone, while a Single Zone Enterprise will be a Zone under whose operation is restricted to one business entity.

Incentive Framework

The SEZ incentive framework will be consistent with international best practice, and enhance the attractiveness of the business climate of Trinidad and Tobago, while also protecting the domestic revenue base to the greatest extent possible. These incentives, which will be conditional on transparent eligibility criteria, include a 15 percent Corporation Tax rate, and exemptions and waivers on customs duty, value added tax and other taxes. SEZ entities will also benefit from non-fiscal incentives that include an enhanced operating environment through harmonized and efficient regulatory approvals to improve the ease of doing business.